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Seattle Genetics Lands $208M Collaboration with Abbott

By Catherine Shaffer

Wednesday, March 23, 2011
Seattle Genetics Inc. has landed yet another partner for its antibody-drug conjugate (ADC) technology. Abbott will pay $8 million up front for rights to pair the technology with its internal oncology target. The deal is merely the latest in a string of partnership agreements that have provided a steady income for the company. Seattle Genetics' 11 collaborations have earned it $155 million in up-front payments, fees and milestone payments to date, and have racked up a total $3.2 billion in potential future payments.

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